Aries Maritime Transport Limited Announces Effective December 21, 2009 Company Will Be Renamed 'NewLead Holdings Ltd.' and Will Trade Under the Symbol 'NEWL'

12/7/2009

Company to Ring NASDAQ Closing Bell Commemorating New Beginning
Announces Results of its 2009 Special General Shareholders Meeting

ATHENS, Greece, Dec 07, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Aries Maritime Transport Limited (Nasdaq: RAMS) (the "Company") today announced that, effective December 21, 2009, the Company will be renamed "NewLead Holdings Ltd." The Company's common shares, listed on the NASDAQ Global Market under the symbol "RAMS," will trade under the new symbol, "NEWL," upon commencement of trading on December 21, 2009.

To commemorate the name and ticker change, NewLead's Management team will be ringing the NASDAQ Closing Bell on December 21, 2009.

"We look forward to ringing the closing bell at the NASDAQ, commemorating Aries' name change to NewLead. This name change symbolizes a new beginning for the firm," said Mr. Nicholas G. Fistes, Chairman.

"We believe that the NewLead name will, over time, become synonymous with prudent management, operational excellence, accretive growth and financial transparency. We will strive to be an industry leader," said Mr. Michail S. Zolotas, President and Chief Executive Officer.

To view the closing bell ceremony live, please visit http://www.nasdaq.com/about/marketsitetowervideo.asx at 3:50 p.m. Eastern on December 21, 2009. An archive of the closing bell ceremony is available after December 21, 2009 at http://www.nasdaq.com/marketsite/marketsite_events.stm.

Aries also announced today the results of the Special General Meeting of Shareholders (the "SGM") held on Friday, December 4, 2009. With 68.62% of Aries' common shares represented in person or by proxy, the following two proposals were approved and adopted at the meeting:

-- A change of the Company's name to "NewLead Holdings Ltd."
-- An amendment to the bye-laws of the Company to provide for written resolutions to be approved by a majority of the shareholders rather than unanimously.

About Aries Maritime Transport Limited
Aries Maritime Transport Limited is an international shipping company that owns and operates product tanker, container and dry bulk vessels. The Company's products tanker fleet consists of five MR tankers and four Panamax tankers, all of which are double-hulled. The Company also owns a fleet of two container vessels in capacity of 2,917 TEU each and three dry bulk vessels secured on period charters.

Aries Maritime Transport Limited press release